Bakkt is the global platform established by Intercontinental Exchange, and it offers cost-efficient ways to access digital assets. With an open-source platform and adherence to the regulatory requirements, this ICE cryptocurrency platform aims to be the best option for investors. As such, they have released a blog post to let their users know what to expect from their platform.
According to the post, there are several new features in the works. The first listed is the process of customer onboarding and falling in like with regulations. They state that they are working “closely with the CFTC” during their review involving both Bakkt Bitcoin Daily Futures contract and the Bakkt Warehouse.
The blog says,
“These products represent a critical shift in the evolution of crypto markets toward more accessible, useful, and regulated instruments.”
One of their other announcements was the addition of Adam White onto their board as the COO, guiding them through the launch and the projected roadmap. Though the project is working towards the launch, do not expect them to be ready this year. The current goal is to launch on January 24th, 2019. There is still a lot to test out, which is a big concern for the platform.
Their second focus is on expanding their offering, though many of these applicable benefits are still in the works.
One certainty is that they have established,
“insurance for bitcoin in cold storage and are in the process of securing insurance for the warm wallet within the Bakkt Warehouse architecture. We are focused on every aspect of delivering an institutional grade crypto warehouse solution and believe this is a significant step in building confidence in this asset class.”
The update on the blog included some of the most common questions that they have received from consumers, starting with inquiring about why the platform chose Bitcoin. Bakkt cited the widespread use and knowledge of bitcoin, noting that they have seen the most demand for this token. However, they plan to continue adding other contracts “as the landscape evolves.”
Other concerns about the upcoming exchange has to do with the price of bitcoin and when trading begins.